Thrivent Financial for Lutherans Sells 242,971 Shares of Rithm Capital Corp. (NYSE:RITM)

Thrivent Financial for Lutherans decreased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 59.9% in the third quarter, HoldingsChannel reports. The fund owned 162,981 shares of the real estate investment trust’s stock after selling 242,971 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Rithm Capital were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 1,183 shares in the last quarter. Empowered Funds LLC raised its stake in Rithm Capital by 8.3% during the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 1,216 shares in the last quarter. Founders Financial Alliance LLC lifted its position in Rithm Capital by 2.6% during the second quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after purchasing an additional 1,286 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,461 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Rithm Capital by 6.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 1,481 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.18 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $5.81 billion, a PE ratio of 11.29 and a beta of 1.80. The company has a 50-day simple moving average of $10.86 and a two-hundred day simple moving average of $11.13. Rithm Capital Corp. has a one year low of $9.97 and a one year high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period last year, the firm earned $0.58 EPS. Research analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Rithm Capital Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.